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MenuBuzz Token is an ERC20 Standard Token on Ethereum blockchain, fully compatible with popular Ethereum wallets which support ERC20 Tokens and smart-contracts that use the ERC20 Standard. Its purpose is to provide a vehicle for users to purchase food and beverage items in establishments through cryptocurrency.
MenuBuzz is not only a new payment method, but also an evolutionary thinking about how food and drinks are ordered. In the old server-centric model, a live human is required for every purchase. This model persists when you walk into virtually any busy restaurant, despite people’s growing demand to use their mobile device to order basic needs for daily life. MenuBuzz changes this by enabling your smartphone or tablet to order and pay -- when you want, where you want. Servers can still take orders but now the customer can too, from the palm of their hands. No more waiting in lines. No more desperately trying to get your overworked waitress’s attention as she rushes by. No more “Check, please.” In this era of social media and everything at the speed of now, MenuBuzz represents the solution and the future of ordering.
What’s the MenuBuzz all about? It’s about a real world solution that touches the most basic of human needs: eating and drinking.
With the MenuBuzz API, integrated into the MenuBuzz App and fueled only by MENU, users can bypass the typically convoluted and time-consuming process of converting their cryptocurrencies into fiat money to make purchases. Now, with a click of a button, MenuBuzz does this for you.
The concept is simple. Once a customer is ready to pay, the MenuBuzz API presents them the option to pay with Cash, Credit Cards, Paypal, or cryptocurrency (more options coming soon). If the user selects cryptocurrency, the system will convert their MENU to FIAT currency, add that value to the restaurant’s account balance, and the original MENU tokens will go back into circulation. The MenuBuzz API then calls the MenuBuzz App to complete the order and the restaurant receives their payment for goods in FIAT. Customers can purchase MENU for their CryptoWallets whenever the need arises.
Ordering food and drink is a simple endeavor enabling the user to initiate an order across all participating restaurants through the MenuBuzz website or Apps. The MenuBuzz website is HTML5 compatible and built responsive, so that it displays well for PC, Tablet, and smartphone users across all modern browsers. Apps will also be available soon for Apple iOS and Android devices.
We’re at an interesting stage of humanity where the ‘Baby Boomers’ not accustomed to technology shun it, the young insist upon it, and everyone else is somewhere in between. Over the coming years the desire for technology in restaurants and bars will only increase as boomers age out, but at this moment in time there is a strange dichotomy between what the young and old expect from their restaurant experience. Restaurateurs ignore either group at their own peril.
So, what to do when Millennials prefer ordering via tech seven to one, Gen X and Y’ers generally prefer it (57%) and Baby Boomers would rather not order for themselves at all (66%) ? The answer is to create an environment that offers technology in a non-intrusive way so it’s available to those who want it but not seen by those who don’t. In short, make it an option but not the only option.
Today’s youth overwhelmingly prefer using self-serving technology as it is more efficient, has more options, and saves time. Millennials are all about social media and the speed of now. Restaurant and bars “off the digital grid” are a non-negotiable. However, for the Baby Boomers having to order from a POS kiosk or a greasy tablet mounted on the table is too intimidating, too “in your face.” They see it as only taking away from the decor or taking up valuable table space. There needs to be a better option that addresses the needs of both Millenials and Baby Boomers (and of course all other ‘groups’ in between and around them that are potential customers).
Enter MenuBuzz where customers have the option to use their personal phones and tablets to make their orders, split bills, and pay. Or not. If a silver fox wants to have the waitress take her order, as she’s always done, she can still do that the old-fashioned server-centric way. However, if a group of young tech professionals rushing to work want to speed things up by ordering from their phones and pay with their cryptocurrency, now they can. In this way, one can choose to opt-in to technology, but is not forced to. This is non-intrusive, simply an option for those interested. MenuBuzz enables guests to select and customize their order, to get exactly what they want when they want it. Servers are still there to, well, serve! That is, to provide personal communication tableside to Baby Boomers who require it. And for Millennials who could be bothered to repeat an order to a human being in an error-prone loud setting, a server-free solution is available - MenuBuzz. The restaurant server model is now transformed: laser focused on making sure all their customers are having a positive dining experience, however they prefer.
We see the demand for MenuBuzz App coming from the virtually any catering establishment except for fine dining. Due to the very nature of fine dining, where customers expect a high level of personal interaction through the entire dining experience, the MenuBuzz App is not designed to serve this segment. As such, MB will focus its energies and resources on rapid adoption of MenuBuzz in fast food, fast casual, casual dining, cafes and bars.
Menu Tokens are not securities – not according to MB. They are pre-paid digital vouchers that can be used to purchase food & beverage products through MenuBuzz. In the event the Token Sale is deemed to be a regulated transaction, and a breach of any regulation, law or rule, MB will rescind the Token Sale and all applicable contracts associated with it where necessary.
The Token Sale and the corresponding MenuBuzz Token creation process will be organized around smart contracts running on Ethereum. In total, 800,000,000 Million MenuBuzz Tokens (MENU) will be created.
Participants willing to support the development of the MenuBuzz Project can do so by sending Ethereum to the designated address, or by contributing through the MenuBuzz platform. By doing so, they are purchasing MenuBuzz Tokens at the rate of 20000 MENU per 1 ETH which will be sent to their wallet.
During the token sale, several rounds (Tiers) will be organized with different bonus, discount rates and payment methods.